New Delhi: Companies have time till September 30 to clear unsold pre-GST goods as the government on Tuesday allowed a revised MRP to be displayed along with printed sale price to reflect the changes post the new tax regime kicking-in.
For reducing the MRP, a sticker of revised lower MRP (inclusive of all taxes) may be affixed and the same shall not cover the MRP declaration made by the manufacturer or the packer on the label of the package.
Meanwhile, Mr Paswan asked the manufacturers to pass on the benefits of reduced taxes under GST to consumers and warned that “shopkeepers not mentioning MRP revised because of GST will be liable for legal action.”
“After the GST came into effect, prices of some items have gone up while prices of others have come down.
The benefits of decreased prices, by reduction of tax after imposition of the GST, should reach the consumers. We have granted relaxation till September 30 to industry under Packaged Commodities Rules to write new MRP on items of reduced prices due to GST,” Mr Paswan tweeted.
He said that new MRP should be mentioned on the items where prices have increased due to GST so that the consumers can be aware of the impact of GST. “The shopkeepers not mentioning MRP revised because of GST will be liable for legal action,” he added.
MRP or Maximum Retail Price, as per law, is the highest price that can be charged to a consumer after including all taxes. But in case of some commodities, the tax rate has changed post-GST, altering the MRP.
This created a problem for several businesses which were left with large volumes of unsold pre-packed items when the GST came into force from July 1.
A government notification has now allowed such unsold pre-packed items to be marketed to consumers with an add-on sticker indicating the revised price. The old MRP will have to be clearly on display along with the revised MRP sticker.
